Brokers cheat foreign investors in Bansko ski resort

Article published from FrogNews on 2008-02-06 12:00:00Category: Properties in Bansko

Brokers mislead investors and speculate with the investments, planned by Bansko municipality. They announce early in advance what will be built in the resort to attract clients. This emerged at a meeting between British ambassador Steve Williams, vice ambassador Denise Baker and Bansko mayor Alexander Kravarov. Currently Brits own 2231 apartments in Bansko. 465 are registered for tourist activity.

The owners are being lied to – in order to certify ownership one must dispose of a document called Act 16, but they are usually issued Act 14. There are also speculations involving landscaping, waterworks and power supply. Foreigners are told that the municipality is responsible for providing these services, but in fact private entities are. Brokers assure buyers that they’ll get returns if they grant broker firms the right to manage their properties. This doesn’t happen and they often lose money. Mayor Kravarov said that he hopes a second cabin lift will attract investments in Bansko and the nearby resort of Dobrinishte. According to him the ski zone will no longer be enlarged. Only the “Cherna Mogila” ski run will be developed. This run will attract 2000-3000 skiers a day and enable the other ski areas to function better